CoastalSouth Bancshares (NYSE:COSO) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of CoastalSouth Bancshares (NYSE:COSO) from a hold rating to a sell rating in a research note published on Saturday.

COSO has been the subject of several other reports. Piper Sandler increased their price objective on CoastalSouth Bancshares from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Zacks Research upgraded CoastalSouth Bancshares from a “strong sell” rating to a “hold” rating in a report on Friday, January 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CoastalSouth Bancshares in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.00.

CoastalSouth Bancshares Price Performance

Shares of COSO stock opened at $24.68 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $295.67 million and a P/E ratio of 14.60. The stock’s 50-day moving average price is $24.26. CoastalSouth Bancshares has a 12 month low of $19.24 and a 12 month high of $26.29.

CoastalSouth Bancshares (NYSE:COSO) last posted its quarterly earnings results on Tuesday, January 20th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.04). The firm had revenue of $22.16 million for the quarter, compared to analyst estimates of $22.30 million.

CoastalSouth Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Thursday, February 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, February 12th. CoastalSouth Bancshares’s payout ratio is currently 11.83%.

Hedge Funds Weigh In On CoastalSouth Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Endeavour Capital Advisors Inc. acquired a new position in shares of CoastalSouth Bancshares in the third quarter worth $7,349,000. Bleakley Financial Group LLC purchased a new position in CoastalSouth Bancshares in the third quarter valued at $1,921,000. EJF Capital LLC purchased a new position in CoastalSouth Bancshares in the third quarter valued at $20,287,000. New York State Common Retirement Fund acquired a new position in CoastalSouth Bancshares during the 3rd quarter worth $41,000. Finally, ELCO Management Co. LLC purchased a new stake in CoastalSouth Bancshares during the 3rd quarter worth about $242,000.

About CoastalSouth Bancshares

CoastalSouth Bancshares, Inc is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. Today, we have a community banking presence in some of the fastest growing and most business-friendly markets in the U.S., namely the Lowcountry of South Carolina (Hilton Head Island, Bluffton, and Beaufort), nearby Savannah, Georgia, and the Atlanta, Georgia market.